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YOU WONT BELIEVE: 3 - What They Never Told You

Fiscal status unfazed by continued tax discount

The Finance Ministry is confident the cabinet's decision to extend the diesel excise tax cut by another four months will not affect the country's fiscal status as net revenue collection for fiscal 2023 is expected to exceed the target, says Deputy Finance Minister Santi Promphat.

Bangkok Post

Realty industry wants tax and policy related relaxations in upcoming budget 2023

NEW DELHI: With a view to sustain demand in the housing sector, the realty industry wants tax and policy related relaxations in the upcoming budget.

The Times of India

Welfare bump on the cards

The Finance Ministry is considering increasing the value of state welfare card subsidies in response to rising living costs, says a ministry source who requested anonymity.

Bangkok Post

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BoT sets out plan to issue up to 3 virtual banking licences

The Bank of Thailand plans to grant up to three virtual banking licences in the first stage of its digital plans, and will allow both financial institutions and non-financial firms to apply.

Bangkok Post

Ghana again extends domestic debt exchange registration deadline

Ghana has further extended the deadline to register for its domestic debt exchange to Jan. 16 in order to "secure internal approvals" from the financial sector, the Finance Ministry said in a statement late on Saturday.

Reuters

New Year govt gift bonanza

The government will roll out a package of stimulus measures as "New Year gifts", including tax rebates for shoppers, reductions in land and building taxes, and property transaction fees to boost public consumption and the economy over the coming year.

Bangkok Post

State agencies prep new 'gifts'

Government agencies including the Finance Ministry are expected to propose measures to ease the cost of living for consumers and businesses, aiming to stimulate domestic consumption via "New Year's gifts", for cabinet consideration on Tuesday, says a ministry source who requested anonymity.

Bangkok Post

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Govt to mull more stimuli for New Year

The Finance Ministry will on Tuesday submit to the cabinet for consideration a series of economic stimulus packages to boost consumer spending during the New Year period, a ministry source said.

Bangkok Post

Over 40 trillion yen sought for 5-year defense plan

Defense spending is planned to be set at more than 40 trillion yen in the next five-year defense program from fiscal 2023, according to sources.

The Japan News/Yomiuri

B60bn savings-bond issue planned

The Finance Ministry plans to sell 60 billion baht worth of government savings bonds next month to help finance the budget deficit, the Finance Ministry said on Thursday.

Bangkok Post

Ministry pushes new savings fund

The Finance Ministry is pushing for a mandatory provident fund intended to be a savings reserve for employees nationwide after voluntary provident funds were found to be inadequate.

Bangkok Post

Auditors in Iraq Uncover Staggering $2.5 Billion Tax Fraud

Auditors in Iraq have uncovered a massive scheme in which a network of businesses and officials embezzled some $2.5 billion from the country’s tax authority, despite layers of safeguards. The scandal poses an early test for Iraq’s new government, which was formed late last month after a prolonged political crisis.

Asharq Al-Awsat

Talks aimed at quashing Ponzi fraud

The Department of Special Investigation (DSI) and the Finance Ministry have discussed methods to strengthen their efforts to prevent Ponzi schemes, says Fiscal Policy Office director-general Pornchai Thiraveja.

Bangkok Post

Auditors in Iraq uncover staggering $2.5 billion tax fraud

Auditors in Iraq have uncovered a massive scheme in which a network of businesses and officials embezzled some $2.5 billion from the country’s tax authority, despite layers of safeguards

The Independent UK

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Bangkok Post

THAI expects to name new chief in January

Thai Airways International expects to name a new permanent CEO as early as January as it proceeds with its restructuring plan, acting CEO Suvadhana Sibunruang said on Friday.

Bangkok Post

Finance Ministry mulls land and building tax cuts

The Finance Ministry is considering a proposal to reintroduce a reduced land and building tax over the next two years, says Finance Minister Arkhom Termpittayapaisith.

Bangkok Post

Cabinet approves changes to liquor regulations

The cabinet on Tuesday approved the Finance Ministry's amendment to ministerial regulations regarding the production of traditional liquor for non-commercial purposes and craft beer, ignoring the Move Forward Party's draft Progressive Liquor Bill.

Bangkok Post

Finance Ministry trims GDP growth outlook to 3.4%

The Finance Ministry on Friday trimmed its 2022 economic growth outlook to 3.4% from 3.5% projected earlier, with the main drivers being a recovery in private consumption and the crucial tourism sector, Fiscal Policy Office (FPO) director-general Pornchai Thiraveja said.

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Bangkok Post

Govt to recapitalise Thai Airways with B10bn

The government will need to raise 10 billion baht to recapitalise financially ailing Thai Airways International (THAI) to keep its shareholding in the company from dipping below 40%, according to the State Enterprise Policy Office (Sepo).

Bangkok Post

Govt to inject another B10bn into THAI

The Finance Ministry plans to inject 10 billion baht into Thai Airways International to keep its shareholding from dipping below 40%, according to the State Enterprise Policy Office (Sepo).

Reuters

Exclusive-Spain, France have owners pay for yachts frozen under Russia sanctions

Spain and France have authorized the owners of superyachts frozen under sanctions against Russian businessmen to pay for their upkeep, three sources told Reuters.

Bangkok Post

Finance Ministry sees 2022 economic growth of 3.0-3.5%

Thailand should see economic growth of 3 to 3.5% this year, driven by the key export and tourism sectors, Finance Minister Arkhom Termpittayapaisith said in an interview on Wednesday.

Bangkok Post

Ministry eyes steps to spur spending

The Finance Ministry is considering new measures to encourage spending in a bid to maintain the Thai economic recovery, according to Pornchai Thiraveja, director-general of the Fiscal Policy Office (FPO).

Bangkok Post

Ministry to vouch for fuel fund loans

The Finance Ministry plans to provide loan guarantees worth up to 30 billion baht to the Oil Fuel Fund in the first phase of the fund's plan to bolster liquidity, says a ministry source who requested anonymity.

The Hindu

Ministries urged to shun ‘inflated’ demands for funds

Finance Ministry seeks ‘objective’ proposals for first supplementary demands for grants for FY23; PAC earlier said dept. demands marked by ‘bad planning, lack of foresight, ineffective monitoring’

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